Transitional Credit- VAT to GST, Goods and Services Tax - GST

[vignesh VSACCOUNTOPRIVATELIMITED]

sir .during VAT regime i have paid advance tax under section 12 during 2017 January and as GST was implemented in July i just C/fd in Tran-1 and started set off against ITC payable, now the department is raising notice that i should apply only for the refund of excess tax under VAT and I should not setoff in GST. is that correct? can I prefer appeal?

Posts / Replies

[KASTURI SETHI]

Dear Sir,

Pl. let me know about Section 12 . Of which VAT Act ?

[vignesh VSACCOUNTOPRIVATELIMITED]

s sir its under TNVAT!

[KASTURI SETHI]

Dear Sir,

Advance tax is always subject to final adjustment. In my view, the department is correct.

[ABHISHEK TRIPATHI]

Dear Vignesh,

Under which sub-section of section 140, querist has transitioned the VAT credits? So, the department is sayings instead of transition, the querist was supposed to file refund of excess tax under VAT?

This seems like a dispute of transition of credit. You establish that you have done the right transition under section 140 of the TN GST Act.